Sui’s Elliott Wave Counts To $12, But $1.05 Must Break First

With Sui Network’s market capitalization once again surpassing $4 billion, market aficionados are now counting on the native SUI coin to restore $1.05. That resistance bubble is particularly important due to the underlying supply area. Rejection below would send Sui’s price below $0.95, potentially retreating to the lower-boundary area of roughly $0.88.

Post by market analyst Laurenco addresses the lingering bear-market psychology phase where retracements trigger desperation due to repeated past disappointments and quick sell-offs. The Elliot Wave labels (3), (4), and (5) on the 3D chart mark the end of a corrective phase that has been tracking a prior larger-degree price extension very closely.

Immediate levels on the chart are support near $0.95 and resistance around $1.05.

Earlier projections on the same chart family show a move into the $3–4 zone (labeled as an (A) wave in prior posts). Longer-term, the analyst has repeatedly cited fractal-derived cycle targets in the $12–15 range, with the note that a large portion of profits would typically be taken around $9–11 if those levels are reached.

Currently residing at $0.9869, Sui’s native crypto price could retest the $1.05 resistance level if believers, otherwise known as bulls, step in to offer support at this rising level of activity. Sui’s 24-hour turnover is extra-high at 22.07%, whipping up $897,366,472 in 24 hours. Sure, flipping dollars like pancakes doesn’t necessarily mean buying.

But it does hint at sustainable demand even when Sui’s crypto price won’t play along. Futures markets are split in sentiment. Some particular crypto exchanges, like Binance, showcase stats pointing to bulls doubling the short-selling positions, while the broader ratio tumbled to roughly 0.90, according to CoinGlass.

This ultimately shows that the general sentiment is still bearish.

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